Morning News Call – India, September 12

To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC_IN_09122022.pdf If you would like to receive this newsletter via email, please register at: https://solutions.refinitiv.com/MNCIndiaSubscriptionpage INDIA TOP NEWS • India says it uncovers fraudulent shell companies with Chinese links Indian authorities on Sunday said they had arrested a man who had masterminded the creation of many shell companies linked to China and appointed dummy directors to run the fraudulent businesses. • India’s rice export curbs trap 1 million tonnes at ports as buyers refuse to pay duty Rice loading has stopped at Indian ports and nearly one million tonnes of grain are trapped there as buyers refuse to pay the government’s new 20% export levy on top of the agreed contract price, five exporters told Reuters on Friday. • Yes Bank to approve J.C. Flowers as buyer for its $6 billion stressed loan portfolio Indian lender Yes Bank is likely to approve the transfer of stressed assets worth $6 billion to private equity firm J.C. Flowers at its next board meeting, said a source with direct knowledge. • Fighting to survive, Tencent-backed Indian music app Gaana turns to subscriptions Tencent-backed Indian music streaming app Gaana has switched to a paid subscription model to try to avoid closing down after failing to secure fresh funds, according to an email from the company to its music partners seen by Reuters. • India…